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Zooropa asks where’s the money coming from to pay for this?
Past form shows any large amounts of money raised will cover director fees and with circa €2 million owed and the company valued at £1million you gave in my book a technically insolvent company.
The project isn’t new!!! Mining rights granted decades ago and the project had millions invested from a JV. Research Mantle Firestone European diamonds to name just a few that spent millions between them on Lahtojoki. Draining the pond, drilling and bulk sampling. Sadly was proved uneconomic and failed to attract any further JV funding. Move forward 20 years and KDR buy failed project for initial €50k. Ask yourself why do KDR keep producing papers without mentioning the results on these papers are not from work carried out by KDR!!! I find it misleading. Just google earth LAHTOJOKI you will see a flooded pond with remaining bulk sampling material on an abandoned site.
Will cost millions to drain the pond, drill new samples and bulk sample from a company with a history of spending 95%+ off fundraisers on fees not real exploration.
I’m not deramping I’m trying to give anyone interested in this company the guidance to research properly. Always read the finals see what is spent on exploration
Desperate NR pump that’s got the reaction it deserves from the market. Who would JV with what looks like a technically insolvent company with circa £2million debt a past failed asset that cost €50k with no new exploration results. Circa €500k due for directors fees this year and another chunk on top for loan notes. Virtualy no cash and have had no cash for serious exploration in what looks like decades. Mass dilution to cover fees looks certain and at what price?
You need to do real exploration to give shareholders real news!!! This company seem to think shareholders will keep swallowing pretty rehashed failed JV results from 20 years past. The truths in the finals nearly all money goes on fees including loans and private shareholder investments. No exploration equals no progress that’s the reality
Share price was at 1.8p and surged when announced a new investor took £120k shares at 4p and lent £120k at 5% per annum interest and convertible loan notes due this year at 10p. Nicely got the share price up and has allowed a few placings that shareholders I believe took part in. Out the shareholders money invested at 4p and the £240k how much has been spent on exploration of Lahtojoki? Answers in the finals and it’s a tiny fraction rest has gone in fees. Again that loan note is due for repayment this year at 10p. Share price nearly back at the 1.8p with a shed load of placings dilution.
EPD was launched in Dec 2000 on the potential of its interests in Finland. However progress has been slow and it has only recently been bulk sampling the Lahtojoki and Area3 projects for processing through the Geological Survey of Finland’s facility at Outokumpu. These results from 20 years ago are what KDR put out. Obviously the project failed and the site abandoned. This company bulk sampled KDR don’t have the funds to drill or sample the pit just brought the licence for initial €50k and have done nothing of note that would be new exploration in a decade. They may well get a mining licence but what use is that when the project has not had new exploration to improve results that failed to attract finance 20 years ago
Just type Lahtojoki in google maps will take you to the abandoned site with the remaining bulk sampling material left from over a decade ago when a JV that had millions spent proved the site not viable and collapsed as couldn’t attract investment. You will also see just how small the pond is that is the new focus to attract shareholders. Any news you see with results from this site KDR have done little to no exploration they are old results they are selling you from past failed ventures. Company valued circa £4m with debt for an abandoned site they secured for an initial €50k with circa €500k cash burn per annum spending circa €10k on exploration. The mind boggles how they get away with it year after year taking millions in fees along the way
There’s no money for exploration they haven’t had any for years if there’s enough cash they pay wages if not they take shares or don’t take wages and add to the debt every year. Fancy RNS but in reality next to nothing ever spent moving from one licence to another as the focus.
I have no shares in Blue Rock not sure what you mean. Back to KDR!! Now I think this looks technically insolvent. It can’t raise enough money for exploration on its current licences so what’s the point in the company taking new licences and looking at streams in Ireland.
I can’t see how the company is valued at £2 million when it has 1.6m debt!!! and Paid just €50k for Lahtojoki asset!! Also loan notes at 5 x share price owed this year. Every fundraise just about covers fees of circa €500k which massively dilutes shareholders. So this company’s currently worth nearly £4mil with all debt considered for a lit they paid €50k for that has past failed JV and uneconomic results. The company have done no drilling in nearly 10 years but publish results from past companies work as if it’s new!!! This is fast heading back to pre consolidation price just a few fundraisers away.
You keep saying shares are in sticky hands. Well you’ve gone from 20 million to 70 million shares in 3 years with the mass dilution so there’s going to plenty of shares coming and your Prof who you hold in such high regards won’t worry about a 25% reduction to get the cash to pay the fees and more than likely take a chunk of shares from the £1.6 million it owes directors. Steve it’s a fact it’s as clear as day most of the money raised isn’t used for exploration it’s used to pay fees. In my book that’s a lifestyle company
I’ve not been to an EGM the shares I have are 80% down with dilution. Alarm bells rang doing research and seeing money wasn’t been raised in some fundraisers as Prof was taking shares out of wages owed to keep control. The more you dig here the more you realise that this share has to raise £500k per year to cover fees. How can you pay a so called geologist hundreds of thousands in wages and do just a few thousand pounds worth of exploration.
In 2020 KDR raised £420,000 before expenses via a share placing to provide funds to explore the acreage surrounding its Lahtojoki diamond deposit.
At a discount of 23.8%
Looking at Finals circa €450k in fees
And just £10k spent on exploration
Most of the funds raised go in fees and not much seems to be left for exploration surely £10k spent is never going to get you anything done fast. Looks like there was no cash left at end of year bar £60k and the recent fundraiser again just enough to cover annual fees. The dilution you big shareholders keep getting every year to pay the board and have little or no news on the ground as no money left for real exploration. Fair play in keeping the faith you certainly deserve some luck but with all fundraisers diluting you further and no serious exploration been done what chance do you have?
I’ll dismiss any shareholder value in 2005 when KDR was launched Lahtojoki had a joint venture which proved from bulk sampling Lahtojoki uneconomic. KDR brought for an initial €50k nearly 10 years ago and have done no further drilling. Around £7million in fees later your pinning your hopes on a past failed project brought for peanuts. Good luck with that